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By admin 2018-06-07

But a more important reason for the emerging bullish sentiment is that China, arguably the world’s largest stakeholder in cotton, could be back in the market with a bang. The Chinese announcement that the country intends to raise its cotton imports with reduced-duty is seen as a positive for the market. In recent years, China’s cotton import volumes had declined drastically as the country continued to liquidate large inventory. The Asian major’s annual imports are currently close to a million tonnes , less than a third as compared with peak imports until five years ago. But, of late, cotton prices in the Chinese market have escalated sharply, prompting the authorities to think about rebuilding stocks.